About legal frameworks

antennaPostage, water supply, roads, electricity, broadcasting. Each of them has become crucial to a modern economy. But each needed new legislation to reach that level of usefulness. Your country has a legal framework that underpins and regulates all these facilities.

That doesn’t mean government runs broadcasting. But it does give benefits to - and demand obligations from - the organisations that do.

 

Making money scarce

Some will argue the private sector alone could deliver the potential of these technologies. It's true that most facilities we use are all the better from having minimal government involvement, but not all. Why, for example, should government be involved in money supply?

Money is fundamental to our economic system, but it only requires pieces of paper and bits of metal. Anyone could mint the stuff. Why shouldn’t we have multiple competing currencies within any country, then the market can decide which ones succeed?

That notion has been tried. The results had a lot of similarities to the current state of e-markets. Read more.

 

 

 

Legal frameworks